A New Politics, A New Economics

The major political phenomenon of the past decade has been a popular revolt against the economic arrangements that took form at the end of the twentieth century. The revolt is global. It takes both left- and right-wing forms, and often presents itself as overtly anti-immigrant or otherwise ethnonationalist, but the undercurrent of deep economic dissatisfaction is always there. Inequality in the developed world has been rising steadily for forty years now. The aftermath of the financial crisis of 2008 activated the politics of economic populism: in the United States, the rise of Bernie Sanders, Elizabeth Warren, and other politicians on the economic left, plus the Tea Party movement and to some extent Donald Trump and his acolytes who rail against globalization, Wall Street, and the big technology companies. In Europe, there is Brexit, new nativist parties (even in Scandinavia), and the Five Star movement in Italy, among other examples. What

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